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South Africa's inflation climbs to 4.5 percent

South Africa’s annual inflation rate accelerated by half a percentage point to 4.5 percent in April, official figures showed Wednesday, as the effect of low oil prices started to fade. Inflation in Africa’s most advanced economy reached its trough in February when it hit a four-year low of 3.9 percent on the back of low oil prices. Nedbank says the rate was now on an “upward trend” that will see it end the year at slightly below the central bank’s six percent upper target range.

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